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IFonline is the loan engine for iii

Interactive Investor International has chosen IFonline as the engine to power its online mortgage service.

IFonline claims its site already has thousands of registered brokers and contains products from over 70 mortgage providers. Intermediaries can search, sort and select a mortgage and track its progress as well as allowing online applications in principle.

IFonline chief executive officer Martin Finegold says: “After a year of rapid growth, it is rewarding to see that our system is being taken seriously by major market players.

“Interactive Investor has an established expertise as an online mortgage service. IFonline already has the expertise as a web mortgage engine. This link-up is key to our development as a common mort- gage platform.”

iii marketing communications director Candice Hodgson says: “Teaming up with IFonline will enable us to offer added choice of providers on site.”

The iii share price has hit a low of 83.5p from the 150p flotation price. Losses have widened to 9.6m.

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